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DiDi Global (STU:92S) Operating Income : €-603 Mil (TTM As of Dec. 2023)


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What is DiDi Global Operating Income?

DiDi Global's Operating Income for the three months ended in Dec. 2023 was €-234 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was €-603 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. DiDi Global's Operating Income for the three months ended in Dec. 2023 was €-234 Mil. DiDi Global's Revenue for the three months ended in Dec. 2023 was €6,347 Mil. Therefore, DiDi Global's Operating Margin % for the quarter that ended in Dec. 2023 was -3.69%.

Good Sign:

DiDi Global Inc operating margin is expanding. Margin expansion is usually a good sign.

DiDi Global's 5-Year average Growth Rate for Operating Margin % was 5.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. DiDi Global's annualized ROC % for the quarter that ended in Dec. 2023 was -7.90%. DiDi Global's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 75.98%.


DiDi Global Operating Income Historical Data

The historical data trend for DiDi Global's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

DiDi Global Operating Income Chart

DiDi Global Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial -1,028.28 -1,733.17 -6,343.30 -2,413.51 -737.34

DiDi Global Quarterly Data
Dec18 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Dec22 Mar23 Jun23 Dec23
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -361.15 -358.15 -237.74 -130.69 -234.12

DiDi Global Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was €-603 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


DiDi Global  (STU:92S) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

DiDi Global's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

ROC % (Q: Dec. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2023 ) + Invested Capital (Q: Dec. 2023 ))/ count )
=-936.496 * ( 1 - 2.96% )/( (11139.051 + 11865.628)/ 2 )
=-908.7757184/11502.3395
=-7.90 %

where

Invested Capital(Q: Jun. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=17645.702 - 2208.58 - ( 5073.961 - max(0, 2999.937 - 7298.008+5073.961))
=11139.051

Invested Capital(Q: Dec. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=18471.317 - 1862.796 - ( 6115.068 - max(0, 3665.941 - 8408.834+6115.068))
=11865.628

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

DiDi Global's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=593.852/( ( (810.56 + max(-1779.263, 0)) + (752.619 + max(-1736.178, 0)) )/ 2 )
=593.852/( ( 810.56 + 752.619 )/ 2 )
=593.852/781.5895
=75.98 %

where Working Capital is:

Working Capital(Q: Jun. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(396.967 + 0 + 125.277) - (2208.58 + 92.926 + 0.0010000000002037)
=-1779.263

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(422.22 + 0 + 468.753) - (1862.796 + 115.211 + 649.144)
=-1736.178

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

DiDi Global's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2023 )/Revenue (Q: Dec. 2023 )
=-234.124/6346.772
=-3.69 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


DiDi Global Operating Income Related Terms

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DiDi Global (STU:92S) Business Description

Traded in Other Exchanges
Address
North Ring Road, Tangjialing, Building 1, Yard 6, Haidian District, Beijing, CHN
DiDi Global Inc is a mobility technology platform. It is building four key components of its platform that work together to improve the consumer experience: shared mobility, auto solutions, electric mobility, and autonomous driving. It is a go-to brand in China for shared mobility, providing consumers with a range of safe, affordable, and convenient mobility services, including ride-hailing, taxi-hailing, chauffeur, hitch, and other forms of shared mobility. The company operates in three segments: China Mobility, which mainly includes ride-hailing services to riders, and also acts as an agent by connecting end-users to service providers who provide taxi hailing, chauffeur, hitch, and other services; International; and Other Initiatives.

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